Emerging markets calendar: TNK-BP to sell benchmark-sized bonds

WEEK OF MARCH 12:

TNK-BP: Dollar-denominated offering of benchmark-sized bonds; ABN Amro, Barclays Capital, Citigroup; Rule 144A/Regulation S; investor presentations during the week of March 5; Moscow-based integrated oil company.

GOL LINHAS AEREAS INTELIGENTES: $200 million offering of 10-year bullet bonds (Ba2//BB+); Morgan Stanley (books),Citigroup (joint lead); Rule 144A/Regulation S; roadshow in London on March 12, Switzerland on March 13, New York on March 14, Boston and Philadelphia on March 15, Los Angeles on March 16; non-callable for life; issued via GOL Finance, a Cayman Islands-based subsidiary; to finance the acquisition of aircraft, equipment and supply materials. Gol and its subsidiary, Gol Transportes Aereos SA, will guarantee; Sao Paulo-based low-cost airline company.

ARAB BANKING CORP. (BSC): Dollar-denominated offering of 10-year subordinated lower tier II notes (Baa2/BBB+/BBB+ issuer ratings); Citigroup; JP Morgan (joint books); Regulation S; non-callable for five years; if not called, coupon steps up by 50 bps; roadshow in Singapore on March 8, Hong Kong on March 9, London on March 12, Frankfurt on March 13; headquartered in Manama, Kingdom of Bahrain; offshore commercial bank.

ALFA BANK: Offering of notes denominated in either euros or dollars (Baa3), Dresdner Kleinwort; Merrill Lynch; Rule 144A/Regulation S; under its existing Alfa Diversified Payment Rights (DPR) program; third issuance under the issuer's DPR program simultaneous U.S. and European investor presentations during week of March 12; private commercial bank headquartered in Moscow.

PROMSVYAZBANK (RUSSIA): Reopening of 8¾% senior bonds due 2011 (Ba3/B+/B+) to add $100 million; Citigroup; Regulation S; private commercial and retail bank based in Moscow; pricing imminent, pending market conditions.

WEEK OF MARCH 19:

ABSOLUT BANK: Benchmark-sized offering of Eurobonds; Dresdner Kleinwort, UBS; Regulation S; roadshow in Hong Kong on March 15, Singapore on March 16, Athens on March 19, Geneva and Zurich on March 20; London on March 21; Moscow-based commercial bank.

CERVECERIA NACIONAL DOMINICANA: $270 million offering of seven-year senior unsecured notes (B1/B),Citigroup; Rule 144A/Regulation S; roadshow in London on March 13, Boston on March 14, West Coast on March 15. New York on March 16&19; for debt repayment; pricing to take place March 19/20; brewing company located in Santo Domingo, Dominican Republic.

MARCH:

EUROCHEM MINERAL AND CHEMICAL CO. OJSC: Dollar-denominated offering of five-year bullet notes (/BB-/BB- expected); Citigroup, ING, UBS (books); Regulation S; loan participation notes via Eurochem Mineral; Moscow-based producer of fertilizers.

MIRAX GROUP: $100 million credit-linked notes due 2011; MDM Bank; to fund construction projects in Kiev, Ukraine; conglomerate based in Moscow and St. Petersburg involved in property development and management, construction, and pharmaceuticals; initial price guidance 9% to 9½%; to launch and price following Asian and European roadshow, subject to market conditions; to price in March.

ON THE HORIZON

HUNGARIAN TELEPHONE AND CABLE CORP. (HTTC): €200 million floating-rate notes; Merrill Lynch & Co., BNP Paribas, Calyon Securities; in connection with HTTC's acquisition of Invitel; HTTC, 62% owned by Danish telecom, TDC, with remaining shares traded on Nasdaq, has headquarters in Budapest and Seattle; expected in second quarter of 2007.

HOME CREDIT & FINANCE BANK RUSSIA: Dollar-denominated eurobonds; ABM Amro, BNP Paribas; expected to take place during the first half of this year; Russian arm of consumer lending group Home Credit.

ISPAT INDUSTRIES LTD.: Up to $500 million in foreign currency-denominated notes for infrastructural improvements in some of the company's plants, including its hot rolled coil steel plant at Dolvi in Raigad district of Maharashtra and its pellet plant, located at Vishakapatnam in Andhra Pradesh; steelmaker based in Mumbai, India.

KAZTRANSOIL: Up to $1 billion in new bonds; to fund the construction of two pipelines; Kazakhstan-based state-run oil firm.

ROADSHOWS

Week of March 5: TNK-BP: Dollar-denominated offering of benchmark-sized bonds; ABN Amro, Barclays Capital, Citigroup

March 8-13: ARAB BANKING CORP. (BSC): Dollar-denominated offering of 10-year subordinated lower tier II notes; Citigroup, JP Morgan (joint books)

March 12-16: GOL LINHAS AEREAS INTELIGENTES: $200 million offering of 10-year bullet bonds (Ba2//BB+); Morgan Stanley (books)

March 13-19: CERVECERIA NACIONAL DOMINICANA: $270 million offering of seven-year senior unsecured notes (B1/B),Citigroup

March 15-21: ABSOLUT BANK: Benchmark-sized offering of Eurobonds; Dresdner Kleinwort, UBS

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